CEO Murdoch Says Move to Drop Time Warner Bid Is a 'Resolute Decision'

21st Century Fox Inc. reported a better-than-expected profit for its fiscal fourth-quarter as the entertainment company benefited from strength in its film unit and continued growth at its cable networks.

The earnings report comes a day after Fox abruptly abandoned its $80 billion takeover bid for Time Warner Inc., citing both Time Warner's unwillingness to "engage with us" and a sharp drop in Fox's stock price which made...